PIB – 03rd Dec 2020

Government constitutes High-level Ministerial Committee for implementation of Paris Agreement

  • In another move that re-affirms India’s seriousness to ‘walk the talk’ on climate change, the Ministry of Environment, Forest and Climate Change (MoEFCC) has constituted a high-level inter-ministerial Apex Committee for Implementation of Paris Agreement (AIPA) under the chairmanship of Secretary, MoEFCC.
  • The purpose of AIPA is to generate a coordinated response on climate change matters that ensures India is on track towards meeting its obligations under the Paris Agreement including its Nationally Determined Contributions (NDC).  
  • Senior officials from fourteen ministries will serve as Members to AIPA who will oversee the progress in implementation of India’s NDC and receive periodic information updates to monitor, review and revisit climate goals to fulfil the requirements of the Paris Agreement. 
  • The year 2021 would mark the beginning of implementation of the Paris Agreement and the constitution of AIPA is central to strengthening the national systems and institutional arrangements for implementation and monitoring of climate actions. It will also ensure that India maintains its climate leadership as one the few countries in the world whose climate actions are consistent with the goals of the Paris Agreement.
  • The Apex Committee for Implementation of Paris Agreement (AIPA) shall exercise and perform the following functions, namely:- 
  1. Coordinate communication and reporting of NDCs to UNFCCC; 
  2. Define responsibilities of concerned ministries for achieving India’s NDC goals and receive periodic information updates to monitor, review and revisit climate goals to fulfill the requirements of the Paris Agreement; 
  3. Develop policies and programmes, if required, to make India’s domestic climate actions compliant with its international obligations; 
  4. Develop Monitoring, Reporting and Verification (MRV) protocol for National Inventory Management System (NIMS) as per the requirements under the enhanced Transparency Framework of Paris Agreement; 
  5. Coordinate communication of National Communications, Biennial Update Reports and Biennial Transparency Reports to UNFCCC; 
  6. Function as a National Authority to regulate carbon markets in India.
  7. Formulate guidelines for consideration of projects or activities under Article 6 of the Paris Agreement; 
  8. Issue guidelines on carbon pricing, market mechanism, and similar other instruments that have a bearing on climate change and NDCs; 
  9. Coordinate submission of Adaptation Communication as required under the Paris Agreement; 
  10. Identify evolving requirements and propose mechanisms to facilitate achievement of India’s obligations in a cost-effective manner; 
  11. Take note of the private sector’s contributions for combating climate change and provide guidance to help align their actions with domestic priorities; 

IFSCA obtains Membership of International Association of Insurance Supervisors (IAIS)

  • The International Financial Services Centres Authority (IFSCA) obtained membership of International Association of Insurance Supervisors (IAIS).
  • International Association of Insurance Supervisors (IAIS)
  • Established in 1994, the IAIS headquartered in Switzerland is a voluntary membership organization of insurance supervisors and regulators from more than 200 jurisdictions, constituting 97% of the world’s insurance premiums. 
  • It is the international standard-setting body responsible for developing and assisting in the implementation of principles, standards and other supporting material for the supervision of the insurance sector. 
  • The IAIS also provides a forum for Members to share their experiences and understanding of insurance supervision and insurance markets. In recognition of its collective expertise, the IAIS is routinely called upon by the G20 leaders and other international standard setting bodies.
  • With this membership IFSCA would have access to IAIS’s global network and would be able to exchange ideas and information with other global regulators. 
  • This would help in developing a vibrant global Insurance hub in IFSC at GIFT City. Currently, 17 leading Insurance entities are operating from GIFT IFSC undertaking offshore Insurance and Reinsurance business. 
  • Some of the leading members of IAIS are United Kingdom- Financial Conduct Authority (FCA), USA- National Association of Insurance Commissioners (NIAC), USA- Federal Insurance Office of the Insurance of the United States Department of Treasury (FIO),Singapore- Monetary Authority of Singapore (MAS), India- Insurance Regulatory and Development Authority of India (IRDAI).

INR 200 crore municipal bonds issue of Lucknow Municipal Corporation listed at BSE

  • The INR 200 crore municipal bonds issue of the Lucknow Municipal Corporation (LMC) was listed at Bombay Stock Exchange. With this, Lucknow has become the 9th city in the country to have raised municipal bonds, which has been incentivized by the Ministry of Housing and Urban Affairs, Government of India under the mission AMRUT (Atal Mission for Rejuvenation and Urban Transformation). 
  • It will help in improving financial & municipal governance, make the city move on the path of self dependence and provide necessary support for developing civic infrastructure. This will also boost AatmaNirbharCity as a part of AatmaNirbharBharat.
  • Lucknow Municipal Corporation (LMC) successfully launched its maiden municipal bond issue on November 13, 2020 which has been listed and is tradable on Bombay Stock Exchange.  
  • It is the first municipal bond issue from North India and the first from Uttar Pradesh after the launch of the AMRUT scheme. 
  • It follows the pioneering trend set by Ahmedabad Municipal Corporation which issued the first municipal bond for INR 100 crore without state government guarantee to finance infrastructure projects in January, 1998. 

AYUSH Day Care Therapy Centres for Central Government employees approved

  • A proposal of a Day Care Therapy Center facility under Ayurveda, Yoga, and Naturopathy systems for central government employees and pensioners has been approved by the Ministry of Health and Family welfare. Private Day Care Therapy centers of Ayurveda, Yoga and Naturopathy will be empanelled under Central Government Health Scheme (CGHS) shortly, in a manner similar to empanelment of Day Care Therapy Centers of conventional (Allopathy) medicine already provided by CGHS.
  • All CGHS beneficiaries, serving as well as pensioners will be able to avail the benefit of these centres. This step has been taken by the Ministry, keeping in view of the growing popularity of the AYUSH system of medicines amongst the public at large and all CGHS beneficiaries.
  • Initial empanelment of  Day Care Therapy Centres will be undertaken on pilot basis for Delhi and NCR for a period of one year and subsequently would be considered for other places.
  • The treatment procedure requiring a short duration of stay in the Day Care Therapy Centre, ranging from a few hours to less than a Day will be made available to CGHS beneficiaries under this scheme. 
  • The aim of the scheme is to improve health and wellbeing, reduce health care expenditure and provide excellence in service delivery, efficiency, and comfort to the patients. As the treatment procedure does not require overnight stay in the unfamiliar environment, it is extremely convenient for children and elderly patients. 
  • This is yet another important step of the Government of India to extend the benefit of the AYUSH system of medicine.